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8649 Running River Lane Fort Worth, TX 76131

3 Beds 2 Baths 2,291 sqft Built 2009

$314,500

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $137.28
  • 5 Days on Market
  • MLS # : 14529743
  • Updated Date : 03/17/2021 at 13:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,291 sqft
  • Baths : 2 full
Listing Agent

Re/max Cross Country

Listing Agent's Description

***DEADLINE FOR OFFERS IS NOON SUNDAY, MARCH 21ST*** The perfect blend of comfort & charm can be found in this spacious, open concept 3 bedroom, 2 bath home! Oversized living room with beautiful stone fireplace with gas logs is open to the kitchen with island, large pantry & breakfast nook with window seat. Primary bedroom is spacious with a sitting area in front of bay windows that overlook the backyard which has a covered patio that's wired for a flat-screen TV. It also has raised garden beds & a pad for a hot tub or shed. Refrigerator, security cameras & smart garage door opener stay. It's time to call this one home!

SEE MORE

MARKET HIGHLIGHTS

  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)

PRICE & RENT TRENDS

Neighborhood: Ridgeview Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Ridgeview Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Comanche Springs Elementary School Primary Regular 586 34 5
Prairie Vista Middle School Middle Regular 866 53 5
Saginaw High School High Regular 1,785 113 6

Comanche Springs Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 34
5
GreatSchools Rating

Prairie Vista Middle School

  • Education Level: Middle
  • # of students: 866
  • # of teachers: 53
5
GreatSchools Rating

Saginaw High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 113
6
GreatSchools Rating
 

$283,050$345,950$314,500

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,092
Property Tax -$721
Property Insurance -$160
HOA -$30
Property Management Fees -$99
CASH FLOW
-$322

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$314,500

PROJECTED PRICE

$1,780

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,093

INVESTMENT

$89,093

Down Payment
$78,625
Rehab Estimate
$5,750
Closing Costs
$4,718

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,092

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,625
Loan Amount $235,875
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$327

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,780

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,953

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,780
1$1,7802$1,7953$1,8004$1,8955$1,895
$1,895
RENT COMPS ANALYSIS
  • 8649 Running River Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 2,291 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,291 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.78
    •  
  • 1428 Wind Dancer Trail Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,104 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,104 Sqft ∙ Built 2004
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
  • 8532 Cactus Flower Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 2002
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 1208 Constance Drive Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2005
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.90
    •  
  • 8517 Santa Ana Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,187 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,187 Sqft ∙ Built 2002
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.87
    •  
PROPERTY LISTING DETAILS
Tracy Strieter
Re/max Cross Country
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529743
Last Updated: 03/17/2021
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